Five Autumn Budget predictions
By Tom Carnegie, 20 Nov 17
With chancellor Philip Hammond poised to release the government’s Autumn Budget on Wednesday, International Adviser has spoken to experts from Old Mutual Wealth, RSM, Mazars, Irwin Mitchell Private Wealth and Aegon to get their budget predictions.
Budget wishlist
Aegon recently carried out research to identify the three big requests from the nation’s financial advisers ahead of the budget.
Advisers were asked to specify three beneficial measures relating to pensions, savings and investment they would like the chancellor to focus on in the Autumn Budget.
The top choices were:
- stimulating economic growth (67%);
- relaxing the lifetime and/or annual allowances for pensions (55%); and,
- limiting change to create stability pre-Brexit (51%).
Steven Cameron, pensions director at Aegon, said: “Advisers are calling for limited change to offer as much stability as possible.
“They are strongly opposed to any radical reform of pension tax relief at least until Brexit is concluded and auto enrolment fully rolled out, but there is a strong demand for relaxations in the lifetime and annual allowances.”
Cameron said advisers are also impatient to see what the government will propose for social care funding with a clear majority agreeing this should be looked at alongside pension policy.
Tags: Aegon | Budget | Irwin Mitchell | Mazars | Old Mutual
